Plug Power (NASDAQ: PLUG) reported Q1 EPS of ($0.06), $0.01 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $5.6 million versus the consensus estimate of $5.35 million.

"We are focused on building a large profitable company," said Andy Marsh, CEO at Plug Power Inc. "Investments in the sales team, hydrogen generation, hydrogen distribution, geographic expansion and stack technologies are just some of the steps being taken by Plug Power today to build our future. We are targeting over $70 M in revenue for 2014, but these steps are expected to accelerate growth in the upcoming years."

The Company shipped 165 units during the first quarter of 2014 compared to 238 units in the first quarter of 2013.

Total cost of revenue for the first quarter of 2014 was $7.9 million, comprised of $3.5 million for cost of product revenue, $4.0 million for service revenue and $0.4 million for cost of R&D contract revenue. This compares to total cost of revenue of $8.6 million in the first quarter of 2013, which was comprised of $5.1 million for cost of product revenue, $2.9 million for service revenue and $0.6 million for cost of R&D contract revenue.

For earnings history and earnings-related data on Plug Power (PLUG) click here.